Work As Hard As You Can | Summary and Q&A

TL;DR

Hard work is essential for those aiming for wealth, but it should be combined with finding the right team and working on the right projects. Acting on inspiration immediately is crucial.

Key Insights

• 💦 Hard work is vital for achieving wealth and success, particularly in highly competitive fields.
• 💦 Three key components of success are finding the right area to work in, surrounding oneself with exceptional individuals, and putting in hard work.
• 🧑‍🏭 Inspiration should be acted upon immediately, as it can fade quickly if not seized.
• 🥡 Impatience is useful when it comes to taking action, but patience is required when waiting for results.

Transcript

let's talk about hard work there's this battle that happens in Twitter a lot between should you work hard and should you not like David Hauser's on there saying it's like your slave driving people and Keith Robo is always on there saying like no all the great founders work their fingers to the bone and they're talking past each other first of all t... Read More

Questions & Answers

Q: What is the difference between the perspectives of David Hauser and Keith Robo regarding hard work?

David Hauser focuses on the balance between work and personal life, especially in lifestyle businesses, while Keith Robo emphasizes the necessity of hard work for those aiming to build multi-billion-dollar public companies.

Q: What are the three key elements necessary for success in business?

The three key elements are finding the right product-market-founder fit, working with the best people, and putting in hard work. Neglecting any of these components can lead to failure.

Q: How should one prioritize tasks while building a business or career?

The first priority is to identify the right area to work in, where there is a market, a product to be built, and personal interest. Secondly, surrounding oneself with exceptional people is crucial. Finally, working hard becomes necessary once the first two elements are established.

Q: Is it effective to work excessively long hours?

No, sustained long hours of work at high output is not sustainable and can lead to decreased productivity and burnout. Effective work is more akin to a sprint-and-rest approach, where intense periods of work are followed by sufficient breaks.

Summary

In this video, the speaker discusses the importance of hard work and its role in achieving success in business and career. He explains that hard work is necessary for those aiming to become wealthy, particularly for those who are striving to build a multi-billion dollar public company. However, he emphasizes that hard work alone is not enough, and it must be combined with working on the right things and with the right people. He also highlights the significance of finding product-market-founder fit as a crucial goal. The speaker shares insights on the order of operations when building a business or career, the importance of surrounding oneself with talented individuals, and the need for taking breaks and resting to maintain mental clarity. The video concludes with thoughts on acting on inspiration, the philosophy of being impatient with actions and patient with results, and the speaker's personal commitment to promptly solving problems in business.

Questions & Answers

Q: What is the distinction between the perspectives of David Hauser and Keith Robo?

David Hauser's perspective focuses on employees in a lifestyle business, where the main goal is not wealth accumulation but rather balancing work with personal life. On the other hand, Keith Robo's viewpoint is centered around the Olympics of startups, aiming to build a multi-billion dollar public company. For this ambitious goal, hard work is essential, along with making the right decisions and having excellent judgment.

Q: What are the three important factors to consider when working on a business or career?

The three key elements to consider are what you work on, who you work with, and how hard you work. It is crucial to find product-market-founder fit, meaning finding an area where there is a market and a product or service that you are passionate about and have the necessary knowledge. Equally important is surrounding yourself with the best people possible, continually raising the bar for collaboration. Finally, hard work does play a role, but it should not be prioritized over the other two factors.

Q: How can one save time when choosing an area to work in?

To save time when selecting an area to work in, it is necessary to identify emerging markets and find products or services that align with your expertise and passion. By focusing on an area where there is already a market and where you have specific knowledge and excitement, you can avoid wasting time on areas that may not be as viable or enjoyable.

Q: What advice does the speaker provide for choosing a startup to join?

The speaker advises individuals looking to join a startup in Silicon Valley to consider the future benefits of the company's alumni network. He suggests evaluating the company based on the caliber of individuals in its network, such as the PayPal Mafia, known for their success and genius. Choosing a startup with high levels of intelligence, energy, and integrity in its alumni network can potentially create valuable connections and opportunities in the future.

Q: Is it true that people work 80-120 hour weeks sustained at high output with mental clarity?

No, the idea of working such long hours consistently is mostly a myth and often serves as a form of status signaling. The truth is that sustained high output and mental clarity cannot be maintained when working such long hours continuously. In knowledge work, it is more effective to work in bursts of intense focus and productivity, followed by rest and rejuvenation. This approach is comparable to a sprinting lion rather than a marathon runner. Taking breaks and resting is necessary for preserving good ideas and overall mental well-being.

Q: Can you elaborate on the concept of inspiration being perishable?

The speaker highlights the perishable nature of inspiration, emphasizing the importance of taking immediate action when one feels inspired. He shares his personal experience with tweet storms, where he often comes up with additional ideas but fails to act on them right away, resulting in the loss of those ideas. When inspiration strikes, whether it is for writing a blog post or sharing a tweet storm, it is crucial to seize the moment and act promptly, as inspiration can fade quickly.

Q: When should one be impatient or patient in life?

The speaker offers a philosophy of being impatient with actions and patient with results. In other words, when it comes to tasks and actions that need to be done, it is best to be impatient and complete them without delay. Procrastination should be avoided, as time is valuable and limited. However, when it comes to the outcomes and results of complex systems and working with others, it is necessary to practice patience. Achieving desirable results often takes time, and expecting immediate outcomes may lead to unnecessary stress and disappointment.

Q: How does the speaker approach problem-solving in business?

The speaker reveals a personal tendency to address problems in business promptly. When he discovers a problem in one of his businesses, he feels restless and finds it difficult to rest or find peace until he takes action to resolve it. Whether he is on the board of a company or running one, he immediately contacts the responsible individuals and initiates the process of finding a resolution. This strong commitment to problem-solving and not delaying solutions has contributed to his success in business.

Q: Does the speaker believe that his personal characteristic of not resting until a problem is solved is applicable to everyone?

While the speaker acknowledges that his personal tendency to be unable to sleep until a problem is resolved might be specific to him, he believes that this approach has been beneficial in business. By actively and promptly tackling problems, he ensures that issues are addressed and progress can continue to be made. However, he also acknowledges that different individuals may have their own preferred problem-solving styles that work for them.

Q: What is the speaker's attitude towards solving problems in business?

The speaker expresses a strong dedication to solving problems in business, highlighting that he is personally committed to finding resolutions as quickly as possible. This commitment stems from a desire for peace, rest, and happiness, as he believes that unresolved problems hinder these aspects of life. By addressing issues promptly, he achieves a sense of peace and fulfillment, allowing him to proceed with confidence in his business ventures.

Takeaways

The video underscores the importance of hard work in achieving success in business and career aspirations. However, hard work must be coupled with working on the right things and collaborating with the right people. Identifying product-market-founder fit and selecting an area of expertise can save time and increase the chances of success. Surrounding oneself with talented individuals and seizing opportunities with an inspiring alumni network can also be significant contributors to success. While hard work is vital, sustained long hours diminish mental clarity and productivity, making strategic bursts of intense focus followed by rest a more effective approach. Acting promptly on inspiration, being impatient with actions, and patient with results are valuable philosophies to adopt. Finally, actively and promptly solving problems contributes to overall peace and happiness in business.

Summary & Key Takeaways

• There is a debate on Twitter about the importance of hard work, with some arguing for it and others cautioning against it.

• Hard work is necessary for those striving for wealth and success, particularly in competitive fields like startups.

• However, working on the right projects and with the right team is equally important, as they form the three critical components of success.